Lilypond Customs processes $937.3m export cargoes in Q3 2024
The Lilypond Export Command of the Nigeria Customs Service (NCS), says it processed 405.979 metric tonnes of export with Free-on-Board (FOB)value at $979.3 million in the third quarter of 2024. The Customs Area Controller of the command, Ajibola Odusanya, told newsmen in Lagos that the command also processed 86,783 metric tonnes of export with free-on-board […]
adewale adeniyi (comptroller general of customs)
The Lilypond Export Command of the Nigeria Customs Service (NCS), says it processed 405.979 metric tonnes of export with Free-on-Board (FOB)value at $979.3 million in the third quarter of 2024.
The Customs Area Controller of the command, Ajibola Odusanya, told newsmen in Lagos that the command also processed 86,783 metric tonnes of export with free-on-board valued at $184.8 million in the second quarter of 2024.
He added that N5.33 billion was paid into the Nigeria Export Supervision Scheme (NESS) levy account in the third quarter of 2024 compared to 640.1 million paid into NESS in the second quarter of 2024.
According to him, the Duty Paid Value (DPV) on export goods in the third quarter stood at N136.0 million compared to N29.6 million DPV in the second quarter of 2024.
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“A surcharge of N97.2 million was recorded based on the 2.5 per cent levy on the export of previously imported goods, in line with the Federal Government’s 2022 Fiscal Policy.
“Notable increase was recorded in exports in the third quarter due to consolidation. In the month of September 2024 alone, LEXC processed 3,363 export containers with a total weight of 221,961.53 metric tonnes.
“The total value of exports declared for September amounted to $202.2 million, and the highest contribution came from agricultural commodities.
“Agricultural commodities accounted for $93.7 million, followed by manufactured goods at $65.0 million.
“In addition, the Nigeria Customs Service generated a NESS revenue of N1.4 billion from September’s export activities.
“The command also collected N88.3 million in duties on exports of previously imported goods, based on the provisions of the 2022 Fiscal Policy,” Odusanya said.
The customs controller noted that the value of shipments in the third quarter saw a remarkable increase of 407.05 per cent, from $184.8 million recorded in the second quarter of 2024 to $937.3 million recorded in the third quarter of 2024.
Odusanya said that the tonnage of exported goods also surged by 368.02 per cent from 86,783,93 metric tonnes to 405,979.72 metric tonnes.
He explained that NESS revenue collection recorded an extraordinary growth of 733.22 per cent climbing from N640.1 million in second quarter to N5.3 billion in the third quarter of 2024.
He stated that the duty paid on exports of previously imported goods increased by 359.12 per cent from N29.6million DPV in the second quarter compared to N136.0 million in the third quarter of 2024.
He said that the duty paid on exports of previously imported goods increased by 359.12 per cent from N29.6million DPV in the second quarter compared to N136.0 million in the third quarter of 2024.